<PAGE>
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported) August 9, 1999
Salmon Brothers Mortgage Securities VII, Inc.
- --------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
Delaware 333-72647-07 13-3439681
- --------------------------------------------------------------------------------
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
388 Greenwich Street, New York, New York 10013
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (212) 783-5635
- --------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
================================================================================
<PAGE>
Item 5. Other Events.
It is expected that during August 1999, a single series of certificates,
entitled, Salomon Brothers Mortgage Securities VII, Inc, Commercial Mortgage
Pass-Through Certificates, Series 1999-C1 (the "Certificates"), be issued
pursuant to a pooling and servicing agreement (the "Pooling and Servicing
Agreement"), to be entered into by and among Salomon Brothers Mortgage
Securities VII, Inc. (the "Registrant"), GMAC Commercial Mortgage Corporation as
Master Servicer, BNY Asset Solutions LLC as Special Servicer, Salomon Brothers
Realty Corp. and Llama Capital Mortgage Company Limited Partnership as Mortgage
Loan Sellers and The Chase Manhattan Bank as Trustee and Tax Administrator.
Certain classes of the Certificates (the "Underwritten Certificates") will be
registered under the Registrant's registration statement on Form S-3 (no.
333-72647-07) and sold to Salomon Smith Barney Inc. ("SSBI") and Banc of America
Securities LLC ("BAS"; and together with SSBI, the "Underwriters") pursuant to
an underwriting agreement (the "Underwriting Agreement") to be entered into by
and between the Registrant and the Underwriters.
In connection with the expected sale of the Underwritten Certificates,
SSBI has advised the Registrant that it has furnished to prospective investors
certain information attached hereto as Exhibit 99.1 that may be considered
"Computational Materials" (as defined in the no-action letter dated May 20, 1994
issued by the Division of Corporation Finance of the Securities and Exchange
Commission (the "Commission") to Kidder, Peabody Acceptance Corporation I,
Kidder, Peabody & Co. Incorporated, and Kidder Structured Asset Corporation and
the no-action letter dated May 27, 1994 issued by the Division of Corporation
Finance of the Commission to the Public Securities Association) and "ABS Term
Sheets" (as defined in the no-action letter dated February 17, 1995 issued by
the Division of Corporation Finance of the Commission to the Public Securities
Association).
The Computational Materials and ABS Term Sheets attached hereto have
been prepared and provided to the Registrant by SSBI. The information in such
Computational Materials and ABS Term Sheets is preliminary and will be
superseded by the final Prospectus Supplement relating to the Underwritten
Certificates and by any other information subsequently filed with the
Commission. To the extent any Computational Materials and ABS Term Sheets
previously filed by the Registrant with respect to the Underwritten Certificates
are inconsistent with the Computational Materials and ABS Term Sheets attached
hereto, such previously filed Computational Materials and ABS Term Sheets are
superseded by the Computational Materials and ABS Term Sheets attached hereto.
Item 7. Financial Statements and Exhibits.
(a) Financial statements of businesses acquired:
Not applicable.
(b) Pro forma financial information:
<PAGE>
Not applicable.
(c) Exhibits:
Exhibit No. Description
99.1 Computational Materials and ABS Term Sheets prepared by Salomon
Smith Barney Inc.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: August 9, 1999
SALOMON BROTHERS MORTGAGE
SECURITIES VII, INC.
By: /s/ Angela Hutzel
----------------------------------
Name: Angela Hutzel
Title: Assistant Vice President
<PAGE>
EXHIBIT INDEX
The following exhibits are filed herewith:
Exhibit No.
99.1 Computational Materials and ABS Term Sheets prepared by Salomon
Smith Barney Inc.
<PAGE>
<TABLE>
<CAPTION>
Additional Information for Multi-family Mortgaged Properties
Total Studio Studio Studio Bedroom Bedroom Bedroom
Number of Number of Maximum Average Number of Maximum Average
Number Property Name County State Units Units Rent Rent Units Rent Rents
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
213 Oakridge Townhomes Clark NV 42 N/A N/A N/A N/A N/A N/A
228 8431-8435 Buffalo Avenue Niagra NY 21 N/A N/A N/A 12 440 409
246 510 Maple Avenue Union NJ 9 N/A N/A N/A 2 525 463
311 Country Club Estates Sheridan WY 131 26 245 235 39 289 275
312 Valley View Apartments Campbell WY 72 N/A N/A N/A 18 390 385
315 The Vinings Apartments Fort Bend TX 240 N/A N/A N/A 84 800 670
320 Willows II Apartments Tarrant TX 110 N/A N/A N/A 52 459 381
325 Hunter's Ridge Apartments Harris TX 256 N/A N/A N/A 96 500 450
326 Mill Creek Apartments Taylor TX 176 N/A N/A N/A 72 950 476
327 Walnut Creek I & II Apartments Bexar TX 340 N/A N/A N/A 216 928 459
328 Woodbridge Crossing Apartments Bell TX 176 N/A N/A N/A 64 560 475
329 Towne Oaks Apartments Jefferson TX 185 N/A N/A N/A 80 1,000 507
333 Ashford Point Apartments Harris TX 224 64 415 398 132 575 506
335 Country View Apartments Lucas OH 140 N/A N/A N/A N/A N/A N/A
336 Lakewood Colony Apartments Dallas TX 98 N/A N/A N/A 44 625 562
338 Pebble Creek Village Apartments Allegheny PA 109 N/A N/A N/A 46 552 520
339 Quail Valley Apartments Fort Bend TX 176 N/A N/A N/A 119 515 401
341 Wayforest Glen Apartments Harris TX 155 N/A N/A N/A 104 520 408
6000215 Mar-Stal Apartments Craven NC 92 N/A N/A N/A N/A N/A N/A
6600059 University Villas Apartments Orange FL 217 N/A N/A N/A 216 575 452
6600099 Heritage Pointe Apartments Clemson Pickens SC 176 N/A N/A N/A 56 460 424
6200970 Centrepointe Apartments San Bernardino CA 360 N/A N/A N/A 120 399 379
6202343 Omni Apartments Seward NM 163 N/A N/A N/A 163 1,670 477
6600839 Holmead Apartments District of Columbia DC 101 40 448 405 56 525 485
6600928 Northpoint Apartments Harris TX 101 3 315 315 43 375 348
6601448 Cobblestone West Apartments Fulton GA 160 N/A N/A N/A 25 669 555
6601473 Village Green Apartments Calcasieu LA 198 N/A N/A N/A 48 450 444
6601476 Americana Warner Center Apts. Los Angeles CA 233 46 580 532 128 755 638
6601479 Orange Plaza Apartments Los Angeles CA 42 N/A N/A N/A 30 675 640
6601499 The Links Townhomes Multnomah NC 55 N/A N/A N/A N/A N/A N/A
6601585 Fox Hill Apartments-Dallas Dallas TX 178 20 410 383 80 540 464
6601621 Madison Terrace Apts. Clark NV 100 N/A N/A N/A N/A N/A N/A
6601629 Broad Ripple Towne Homes Marion IN 102 N/A N/A N/A N/A N/A N/A
6601844 River Park Davidson TN 115 N/A N/A N/A 44 370 358
6601846 Sunridge Townhomes Shelby TN 51 N/A N/A N/A N/A N/A N/A
6601847 Timbers-Memphis Shelby TN 200 N/A N/A N/A 48 460 418
6601848 Rivergrove Townhomes Shelby TN 176 4 360 349 24 435 421
6601855 Hollianna Garden Apartments Orange FL 97 N/A N/A N/A 97 520 433
6602316 Cypress Creek Apartments Tuscaloosa AL 132 N/A N/A N/A 45 425 376
6603061 Boulders on the River Lane OR 248 N/A N/A N/A 35 690 677
LC2630A Executive House Plymouth MA 40 N/A N/A N/A 19 650 616
LC2630B Cranberry Court Apartments Plymouth MA 36 N/A N/A N/A 6 600 588
LC2630C The Atrium Apartments Plymouth MA 20 N/A N/A N/A 16 1,100 653
LC2662 Longwood Park Lucas OH 100 N/A N/A N/A 9 319 309
LC2663 Terraceview Apartments Lucas OH 116 N/A N/A N/A 92 379 339
LC2664 Heatherwick House Apartments Lucas OH 49 1 399 399 24 509 492
LC2779 Breighton Apartments Oklahoma OK 96 4 385 383 92 440 405
LC3028 Summit Terrace Cumberland ME 96 N/A N/A N/A 96 735 654
LC3031 Quail Ridge Lucas OH 80 N/A N/A N/A 40 450 421
LC3032 Eagle Ridge Apartments Lucas OH 88 N/A N/A N/A N/A N/A N/A
LC3040 Somerset Apartments Contra Costa CA 156 N/A N/A N/A 132 1,250 627
LC3044 46 Elm Street Worcester MA 40 4 525 488 28 650 520
LC3045 Ashford Court Suffolk MA 24 N/A N/A N/A 8 825 791
LC3046 72 Gardner Street Suffolk MA 33 N/A N/A N/A 2 925 825
LC3047 50 Parkvale Avenue Suffolk MA 24 15 690 627 9 725 697
LC3048 36,40,44 Quint Ave Suffolk MA 47 9 710 669 20 875 802
LC3058 Shadow Glen San Diego CA 90 N/A N/A N/A N/A N/A N/A
LC3320 53 Elm Street Worcester MA 30 N/A N/A N/A 10 685 685
LC3339 Village Grove Apartments San Diego CA 161 N/A N/A N/A 40 715 687
LC3362 Randolph Village Apartments Montgomery MD 130 N/A N/A N/A 101 718 687
LL1013 Garland Square Apartments Washington AR 56 N/A N/A N/A 8 328 328
LL1015 Chapel Ridge Apartments - Phase II Oklahoma OK 96 N/A N/A N/A 64 489 460
LL1017 Fairway at Fianna Hills Sebastian AR 78 N/A N/A N/A N/A N/A N/A
LL1046 St Andrews at the Barringtons Apts Clarke GA 137 N/A N/A N/A N/A N/A N/A
LL1050 Cambridge Apartments Crisp GA 20 N/A N/A N/A 4 375 375
LL1014 Chapel Ridge Apartments Pottawattomie OK 144 N/A N/A N/A 32 350 350
</TABLE>
State
<PAGE>
<TABLE>
<CAPTION>
Additional Information for Multi-family Mortgaged Properties
Two Two Two Three Three Three Four Four Four
Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom Bedroom
Loan Number of Maximum Average Number of Maximum Average Number of Maximum Average
Number Units Rent Rent Units Rent Rent Units Rent Rent
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
213 42 600 585 N/A N/A N/A N/A N/A N/A
228 9 610 570 N/A N/A N/A N/A N/A N/A
246 7 750 706 N/A N/A N/A N/A N/A N/A
311 50 325 304 16 470 404 N/A N/A N/A
312 54 440 425 N/A N/A N/A N/A N/A N/A
315 132 975 872 24 1,215 1,056 N/A N/A N/A
320 50 589 526 8 650 628 N/A N/A N/A
325 160 1,250 587 N/A N/A N/A N/A N/A N/A
326 88 1,250 611 16 775 753 N/A N/A N/A
327 124 709 581 N/A N/A N/A N/A N/A N/A
328 88 665 603 24 785 728 N/A N/A N/A
329 105 1,300 703 N/A N/A N/A N/A N/A N/A
333 28 620 599 N/A N/A N/A N/A N/A N/A
335 140 998 669 N/A N/A N/A N/A N/A N/A
336 54 899 835 N/A N/A N/A N/A N/A N/A
338 63 648 622 N/A N/A N/A N/A N/A N/A
339 33 560 557 24 660 617 N/A N/A N/A
341 51 580 537 N/A N/A N/A N/A N/A N/A
6000215 92 680 434 N/A N/A N/A N/A N/A N/A
6600059 N/A N/A N/A 1 750 750 N/A N/A N/A
6600099 120 614 509 N/A N/A N/A N/A N/A N/A
6200970 240 995 518 N/A N/A N/A N/A N/A N/A
6202343 N/A N/A N/A N/A N/A N/A N/A N/A N/A
6600839 5 633 580 N/A N/A N/A N/A N/A N/A
6600928 49 450 424 6 525 498 N/A N/A N/A
6601448 95 660 632 40 740 708 N/A N/A N/A
6601473 128 565 525 22 655 636 N/A N/A N/A
6601476 59 925 813 N/A N/A N/A N/A N/A N/A
6601479 12 850 837 N/A N/A N/A N/A N/A N/A
6601499 55 665 665 N/A N/A N/A N/A N/A N/A
6601585 58 800 578 20 820 743 N/A N/A N/A
6601621 44 591 591 56 693 693 N/A N/A N/A
6601629 68 605 529 34 705 657 N/A N/A N/A
6601844 71 395 386 N/A N/A N/A N/A N/A N/A
6601846 12 625 605 33 700 673 6 750 729
6601847 120 505 460 32 590 550 N/A N/A N/A
6601848 120 620 521 28 625 599 N/A N/A N/A
6601855 N/A N/A N/A N/A N/A N/A N/A N/A N/A
6602316 87 425 425 N/A N/A N/A N/A N/A N/A
6603061 73 865 825 140 995 937 N/A N/A N/A
LC2630A 21 750 700 N/A N/A N/A N/A N/A N/A
LC2630B 30 725 680 N/A N/A N/A N/A N/A N/A
LC2630C 4 850 763 N/A N/A N/A N/A N/A N/A
LC2662 91 399 348 N/A N/A N/A N/A N/A N/A
LC2663 24 499 499 N/A N/A N/A N/A N/A N/A
LC2664 24 609 591 N/A N/A N/A N/A N/A N/A
LC2779 N/A N/A N/A N/A N/A N/A N/A N/A N/A
LC3028 N/A N/A N/A N/A N/A N/A N/A N/A N/A
LC3031 40 580 519 N/A N/A N/A N/A N/A N/A
LC3032 88 850 752 N/A N/A N/A N/A N/A N/A
LC3040 24 795 722 N/A N/A N/A N/A N/A N/A
LC3044 8 750 684 N/A N/A N/A N/A N/A N/A
LC3045 4 950 925 5 1,600 1,520 7 1,800 1,743
LC3046 6 950 886 5 1,600 1,450 20 2,000 1,808
LC3047 N/A N/A N/A N/A N/A N/A N/A N/A N/A
LC3048 18 1,000 933 N/A N/A N/A N/A N/A N/A
LC3058 70 575 560 20 735 728 N/A N/A N/A
LC3320 12 852 852 8 1,038 1,038 N/A N/A N/A
LC3339 97 875 822 24 1,010 969 N/A N/A N/A
LC3362 29 864 864 N/A N/A N/A N/A N/A N/A
LL1013 30 436 436 16 535 535 2 590 590
LL1015 24 615 559 8 635 635 N/A N/A N/A
LL1017 78 595 521 N/A N/A N/A N/A N/A N/A
LL1046 68 675 630 N/A N/A N/A 69 1,300 978
LL1050 11 575 502 5 825 740 N/A N/A N/A
LL1014 64 410 410 48 510 510 N/A N/A N/A
</TABLE>
